Douglas Lane & Associates LLC Reduces Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Douglas Lane & Associates LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 166,691 shares of the network equipment provider’s stock after selling 16,039 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Cisco Systems were worth $9,868,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Lantz Financial LLC lifted its stake in Cisco Systems by 1.2% in the 2nd quarter. Lantz Financial LLC now owns 60,993 shares of the network equipment provider’s stock worth $2,898,000 after purchasing an additional 736 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in Cisco Systems by 3,269.4% during the second quarter. Strategic Financial Concepts LLC now owns 150,172 shares of the network equipment provider’s stock valued at $68,000 after buying an additional 145,715 shares during the period. Quest Partners LLC purchased a new position in Cisco Systems during the second quarter worth about $62,000. Carson Advisory Inc. raised its holdings in shares of Cisco Systems by 8.4% in the 2nd quarter. Carson Advisory Inc. now owns 6,428 shares of the network equipment provider’s stock valued at $305,000 after acquiring an additional 499 shares in the last quarter. Finally, Angeles Wealth Management LLC grew its holdings in shares of Cisco Systems by 9.6% during the second quarter. Angeles Wealth Management LLC now owns 14,837 shares of the network equipment provider’s stock worth $705,000 after purchasing an additional 1,305 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of research analyst reports. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday. Citigroup upped their price objective on Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Tigress Financial raised their price objective on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $66.00 to $73.00 in a research note on Monday. Finally, Piper Sandler lifted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average price target of $61.28.

Cisco Systems Stock Up 0.5 %

Shares of NASDAQ:CSCO opened at $59.20 on Thursday. The stock’s 50-day moving average is $58.51 and its 200 day moving average is $52.97. The company has a market cap of $235.78 billion, a PE ratio of 25.41, a P/E/G ratio of 4.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $60.23.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. During the same period in the previous year, the firm earned $0.98 earnings per share. The business’s revenue was down 5.6% compared to the same quarter last year. Sell-side analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.70%. Cisco Systems’s dividend payout ratio is 68.67%.

Insider Activity

In other Cisco Systems news, CFO Richard Scott Herren sold 86,351 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the transaction, the chief financial officer now owns 365,314 shares of the company’s stock, valued at approximately $21,001,901.86. This trade represents a 19.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 353,522 shares of company stock valued at $20,349,721. Corporate insiders own 0.01% of the company’s stock.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.